Billionaire Tom Steyer launches 2020 presidential campaign

The big picture: Steyer essentially has no limitations on how much of his own money he can spend on his campaign. The NYT notes that Steyer "can be expected to deliver his message aggressively over the airwaves, potentially crowding out other competitors who may hope to raise their profiles with paid advertising."

What he's saying: As president, Steyer wants to reform the "broken political system" and combat climate change.

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